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Managing Maritime Cyber Risk – Rising To USCG’s New Maritime Security Directive

On February 22, 2024, the United States Coast Guard (USCG) published a Notice of Proposed Rulemaking (NPRM) in the Federal Register, updating maritime security regulations and introducing new regulations establishing minimum cybersecurity requirements for US-flagged vessels, facilities on the Outer Continental Shelf and US facilities subject to regulations under the Maritime Transportation Security Act of …

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Time bar judgement sets record straight

On November 13, 2024, the Supreme Court of the UK delivered its judgment in The Giant Ace, FIMBank PLC v. KCH Shipping, [2024] UKSC 38: the one-year time bar for claims under the Hague Rules or Hague–Visby Rules (the Rules) applies to claims for misdelivery, even if the misdelivery happens after discharge. This decision is …

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Asia Fuel Oil-VLSFO spot premium slides to three-month low

Asia’s spot premium for very low sulphur fuel oil (VLSFO) slipped to a three-month low on Friday, weighed by ample prompt supply in the market. The Singapore VLSFO cash premium was pegged below $4.50 a metric ton, while backwardation continued to narrow at the prompt trading months. Meanwhile, the hi-5 fuel oil spread narrowed for …

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Australia’s Melbourne HSFO stocks limited, LSFO demand steady

Around the port of Melbourne in Australia, stronger bunker demand for high sulfur fuel oil has tightened prompt product availability and also limited barging schedules amid the peak cruising season in full swing around the region, traders said Nov. 22. Owing to stronger cyclical HSFO demand from scrubber-fitted cruise liners, buyers sourcing for spot requirements …

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Redefining Shipping in Geneva: The Journey to 2050

This week, Geneva became the hub of innovation dialogue at Redefining Shipping by Klaveness. A critical question took center stage: How can we achieve a 100% carbon reduction by 2050 while expanding the fleet by 40%? Moderated by Nisha Pillai, a former BBC World News presenter, the event began with dry bulk and tanker market …

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Hong Kong engages partners to fuel maritime green shift

A unified voice calling for bolder actions to decarbonize the maritime transport and ensure a just transition has been heard at the World Maritime Merchants Forum 2024, which officially concluded on Wednesday. The three-day forum, a flagship event of the ongoing Hong Kong Maritime Week, has pooled wisdom from as many as roughly 1,500 stakeholders …

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The Hood is set to Revolutionise Connections in the Maritime Sector

The maritime industry is on the verge of a new era in connectivity with the launch of The Hood, a social platform built with a bold mission: to unite seafarers, their families, and maritime professionals into one vibrant, inclusive community. The Hood is more than just a networking tool. It is a space for meaningful …

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SGD$100 Million Government Investment To Boost Green Growth In Marine And Offshore Energy Over The Next Five Years

Mr. Alvin Tan, Minister of State for the Ministry of Culture, Community and Youth & Ministry of Trade and Industry, graced OSEA 2024 in Singapore on Tuesday, November 19. The three-day tradeshow welcomed more than 500 exhibitors and 15,000+ attendees from 100 countries, providing a comprehensive look at solutions and strategies driving the energy transition …

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HMM introduces S.Korea’s first LNG-powered vessels

South Korea’s HMM Co. said on Friday that it will introduce two 7,700 TEU (1 TEU equals one 20-foot container) container ships powered by liquefied natural gas (LNG). This marks the first time a domestic shipping company has adopted LNG-powered container ships, a more eco-friendly fuel. The LNG-powered vessels, HMM Ocean and HMM Sky,- were …

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FETEIA-OLTRA pone en marcha las iniciativas acordadas durante su congreso

Lanzamiento del Grupo de jóvenes transitarios y reunión de la Comisión Marítima. Las Comisiones y Grupos de Trabajo de FETEIA-OLTRA han retomado su actividad, tras el Congreso, para poner en marcha todos los acuerdos adoptados durante el mismo. La Comisión Marítima se reunió el pasado 14 de noviembre, por primera vez desde el reciente nombramiento …

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